Now you're saying you are going to tie up a lot of cash, cash that could actually be making you money, for a year, and then go into a very large rehab (time and cost) project hoping to make money on it,...how? 

What key factors should first-time borrowers consider when securing funding for their initial real estate investment?

Just keep your eye on the cap gains exclusion time limit and mark a decision before your time runs out.

You were early, there is still a lot of time on the clock. 

This is our first time being landlord. 

Use stuff like this and you'll have good markets and deals in no time. 

To add to what @Caleb Brown said, there are going to be times when you are not going to find similar comps and you might have to adjust based on the comps you have available.

Make sure you pay on time, keep insurance perfect, head down, eyes on paper. 

You called me 4 months ahead of when that hard money loan matures b/c you are smart and realize that time is money.For the 2nd option, it lists "7/25, 10 year maturity." 

There are different forms of buyer agency agreement , including a non exclusive agreement in which you can work with more than one agent at a time , this is probably best for the investor.